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Insider Trends: Corning Insider Exercises Option/Derivative Security for Stock Sells part to Pay Tax, Trend of Selling Intact

· 02/05/2021 12:19

05:10 PM EST, 02/05/2021 (MT Newswires) -- On Feb 03, 2021, Wendell P Weeks, Director and Chairman & CEO, exercised options/derivative securities for 4,284 shares of Corning (GLW) and sold 4,284 shares in the company for $155,681 to meet tax obligations. After accounting for tax obligations this transaction resulted in no net change in holdings of company shares. After the Form 4 filing with the SEC, Weeks indirectly controls 752,921 shares of the company, with a market value, based on the prior-day closing price, of $28,068,894.

Over the last 90 days, previous to the date of this filing, there have been 65 insider transactions reported to the SEC for Corning. These transactions came from the activities of 13 individual insiders that resulted in a net disposition of 9,140 company shares. Relative to the preceding 90-day window of time, there were 21 transactions from 8 insiders that resulted in the net disposition of 71,687 shares.

This represents a higher level of transactions than the peer group average for the 10-company Display Screens peer group over the last 90-day period. Peer group activity averaged 60.4 transactions per company, with company insiders acquiring on average 126,356 shares.

SEC Story Link http://www.sec.gov/Archives/edgar/data/24741/000112760221004221/xslF345X03/form4.xml

This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.